IC 37-5-2-10 — "Points and fees"
Chapter 2. Definitions
Section text
Sec. 10. (a) Except as provided in subsection (b), "points and fees" means the total of the following: (1) Points and fees (as defined in 12 CFR 226.32(b)(1) on January 1, 2004). (2) All compensation paid directly or indirectly to a mortgage broker, including a broker that originates a loan in the broker's own name. As used in subdivision (2), "compensation" does not include a payment included in subdivision (1). (b) The term does not include the following: (1) Bona fide discount points. (2) An amount not to exceed one and one-half (1 1/2) points in indirect broker compensation, if the terms of the loan do not include: (A) a prepayment penalty, in the case of a home loan described in IC 37-5-3-6(b); or (B) a prepayment penalty that exceeds two percent (2%) of the home loan principal, in the case of a home loan other than a home loan described in IC 37-5-3-6(b). (3) Reasonable fees paid to an affiliate of the creditor. (4) Interest prepaid by the borrower for the month in which the home loan is closed.
As added by P.L.115-2026, SEC.97.
Source: official publisher (2026 edition)